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PO Logistics, the Connecticut-based provider of parcel- and freight-based logistics services, is expanding access to its online freight marketplace XPO Connect to Europe, according to Nasdaq.
XPO Connect, which was introduced in North America last year, uses a multimodal structure and artificial intelligence to enable customers to match users with loads. The platform then provides customers with full visibility into freight movements, including geo-location, weather conditions, traffic, and other factors relevant to shipment status.
The digital expansion is part of XPO’s larger technological strategy: It invests more than $450 million in technology annually across its global organization, resulting in the development of leading technology systems and mobile applications.
XPO is likely hoping its digital strategy will enable it to significantly improve its offerings, reduce its costs, and enhance productivity after a difficult year. The logistics giant missed several financial targetsin Q4 2018, highlighting "headwinds" in France and the UK, as well as the loss of its largest customer (likely Amazon, which accounted for two-thirds of XPO’s business).
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